Cpa Exam

Topics: Common law, Contract, Tort Pages: 6 (1771 words) Published: April 3, 2013
This exam covers general legal knowledge relating to the business environment, a basic knowledge of the law of contracts, and an understanding of the responsibilities and risks that arise in business, with particular regard to the law relating to corporate entities. Topics:

1. Sources of law
1.1 Identify the sources of different types of law
1.2 Identify the features of the different legal systems
1.2.1 Common law
1.2.2 Civil law
1.2.3 Sharia law
2. Common law and legislation: precedent and stare decisis and statutory interpretation 2.1 Identify how common law and relevant legislation are applied 2.2 Analyse and explain legal cases and principles in setting precedents 2.3 Specify how legal cases and principles set precedents

2.4 Identify how to deal with the doctrine of stare decisis (legal precedent) 2.5 Specify the rules and models for statutory interpretation 3. Legal framework
3.1 Describe the legal framework of statute law (legislation) and common law 3.2 Explain the heirarchy of the court system
3.3 Explain how different types of disputes are handled by the court system 3.4 Identify and explain different methods of alternative dispute resolution 4. Fundamental aspects of contracts and contract law

4.1 Describe the fundamental features and essential requirements (terms) of contracts. 4.2 Describe the law of contract
4.3 Describe the necessary elements in the formulation of a contract 4.4 Explain the importance of conditions and essential terms of contracts 4.5 Identify the nature and status of pre-contract representations 4.6 Explain the effect of valid exclusion clauses

5. Breaches of contract law
5.1 Recognise the different types of breach of contract and their effects 5.2 Specify relevant and available remedies for breach of contract 5.2.1 Damages
5.2.2 Specific performance
6. Specialised commercial contracts
6.1 Identify the characteristics of commercial contracts used in international trade 6.1.1 International sales of goods
6.1.2 International transportation of goods
7. Torts
7.1 Explain that the law of torts concerns a civil wrong which may mean a civil action for compensation arises 7.2 Explain the tort of negligence
7.3 Explain that tort law provides legal remedies for losses damages caused by negligence 7.4 Explain that negligence means failure to exercise reasonable care 7.5 Explain consumer protection law and negligence

8. Trusts
8.1 Define a trust and identify common purposes for the establishment of a trust 8.2 Identify the parties to a trust and describe their role 8.3 Describe the legal requirements in relation to trust

9. The law of agency theory
9.1 Explain that agency is the relationship between principal and agent 9.2 Explain how agency theory underlies the principles of corporate governance 9.3 Explain that partnership is an agency relationship

9.4 Explain the application of agency theory to companies
10. Incorporation and its effects
10.1 Recognise that nature and effect of a company having a separate legal personality 10.2 Explain the effects on incorporation
10.2.1 Limited liability
10.2.2 Perpetual succession
10.3 Distinguish the differences between public and proprietary companies 10.4 Identify the processes necessary in forming a company
10.5 Specify the elements of the constitution of a company
10.6 Describe the role of promoters in forming a company
10.7 Explain the implications under common law in relation to pre-registration contracts 10.8 Recognise the difficulties and implications of pre-incorporation contracts 11. Management of companies

11.1 Identify the key legal issues that arise in the management and governance of companies 11.1.1 Identify the impact of key business decisions on shareholders interests 11.1.2 Identify the impact of key business decisions on the public 11.2 Specify the nature and role of company directors and other officers as agents of the company 11.3 Specify the nature, role and powers of the board of...
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